FIN 試験問題を無料オンラインアクセス
| 試験コード: | FIN |
| 試験名称: | Finance |
| 認定資格: | CPA |
| 無料問題数: | 80 |
| 更新日: | 2025-08-25 |
The following exchange rates of UK sterling (EUR) against the Australian dollar (A$) have been quoted:
Spot EUR1 = A$1.7574
Six months' forward, EUR1 = A$1.7245
The interest rate in Australia is 5% per year for a six-month deposit or borrowing.
What is the annual interest rate for a six-month deposit or borrowing in the UK?
Antares Co and Sirius Co have identical business risk and operating characteristics. Antares Co has financial gearing and Sirius Co is entirely financed by equity. Both companies pay out all their profits in dividends but Antares Co earns twice as much profit before interest and tax as Sirius Co. Antares Co has equity with a market value of $34 million and debt with an equilibrium market value of $15 million. Sirius Co has equity with an equilibrium market value of $24 million. The tax rate is 20%.
According to Modigliani and Miller (with taxes), what is the predicted value of the equity of Antares Co?
Arcturus Co has recently purchased goods costing $12,000 from a supplier. The supplier has offered credit terms of 3/15, net 40. If a cash discount is taken, payment will be made on the last possible day. The opportunity cost of funds for Arcturus Co is 30%.
What is the net saving, or net cost, at the normal time of payment of taking a cash discount?
Ulmus Co, a company listed on a major stock exchange, received a confidential letter from a rival company on 30 April 2009 offering to buy all the shares in Ulmus Co at a premium of 25% on their current market value. At a private meeting, convened on the same day, the directors of Ulmus Co agreed to accept the offer and made a public announcement of this decision on 2 May 2009.
Which ONE of the following combinations of possible share price reactions (increase/no effect) would you expect on 2 May 2009 under the semi-strong and strong forms of market efficiency?